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Elkem Valuation Multiples

Discover revenue and EBITDA valuation multiples for Elkem and similar public comparables like DSM Firmenich, Avantium, and Borouge.

Elkem Overview

About Elkem

Elkem ASA offers material solutions shaping and more sustainable future. The company develops silicones, silicon products, and carbon solutions by combining natural raw materials, renewable energy, and human ingenuity. The group helps its customers create and improve essential innovations like electric mobility, digital communications, health, and personal care, as well as smarter and more sustainable cities. It has three reportable segments, namely Silicones, Silicon Products, and Carbon Solutions. It generates the majority of the revenue from the Silicones segment.


Founded

1904

HQ

Norway
Employees

7.3K+

Website

elkem.com

Sectors

Chemicals

Financials

LTM Revenue $3.2B

LTM EBITDA $393M

EV

$2.1B

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Elkem Financials

Elkem has a last 12-month revenue (LTM) of $3.2B and a last 12-month EBITDA of $393M.

In the most recent fiscal year, Elkem achieved revenue of $1.7B and an EBITDA of $504M.

Elkem expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Elkem P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $3.2B XXX $1.7B XXX XXX XXX
Gross Profit $1.5B XXX $852M XXX XXX XXX
Gross Margin 46% XXX 49% XXX XXX XXX
EBITDA $393M XXX $504M XXX XXX XXX
EBITDA Margin 12% XXX 29% XXX XXX XXX
EBIT $157M XXX $169M XXX XXX XXX
EBIT Margin 5% XXX 10% XXX XXX XXX
Net Profit $48.6M XXX $47.7M XXX XXX XXX
Net Margin 2% XXX 3% XXX XXX XXX
Net Debt XXX XXX $792M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Elkem Stock Performance

As of May 30, 2025, Elkem's stock price is NOK 20 (or $2).

Elkem has current market cap of NOK 12.5B (or $1.2B), and EV of NOK 21.4B (or $2.1B).

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Elkem Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$2.1B $1.2B XXX XXX XXX XXX $0.08

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Elkem Valuation Multiples

As of May 30, 2025, Elkem has market cap of $1.2B and EV of $2.1B.

Elkem's trades at 1.2x EV/Revenue multiple, and 4.2x EV/EBITDA.

Equity research analysts estimate Elkem's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Elkem has a P/E ratio of 25.1x.

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Elkem Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $1.2B XXX $1.2B XXX XXX XXX
EV (current) $2.1B XXX $2.1B XXX XXX XXX
EV/Revenue 0.7x XXX 1.2x XXX XXX XXX
EV/EBITDA 5.3x XXX 4.2x XXX XXX XXX
EV/EBIT 13.4x XXX 12.4x XXX XXX XXX
EV/Gross Profit 1.4x XXX n/a XXX XXX XXX
P/E 25.1x XXX 25.5x XXX XXX XXX
EV/FCF -94.5x XXX -15.7x XXX XXX XXX

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Elkem Margins & Growth Rates

Elkem's last 12 month revenue growth is 3%

Elkem's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Elkem's rule of 40 is 14% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Elkem's rule of X is 19% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Elkem Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 3% XXX 41% XXX XXX XXX
EBITDA Margin 12% XXX 29% XXX XXX XXX
EBITDA Growth 4% XXX -1% XXX XXX XXX
Rule of 40 14% XXX 32% XXX XXX XXX
Bessemer Rule of X XXX XXX 19% XXX XXX XXX
Revenue per Employee XXX XXX $0.2M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 7% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 39% XXX XXX XXX

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Elkem Public Comps

See public comps and valuation multiples for Chemicals comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Borouge XXX XXX XXX XXX XXX XXX
Fertiglobe XXX XXX XXX XXX XXX XXX
Akzo Nobel XXX XXX XXX XXX XXX XXX
Avantium XXX XXX XXX XXX XXX XXX
DSM Firmenich XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Elkem M&A and Investment Activity

Elkem acquired  XXX companies to date.

Last acquisition by Elkem was  XXXXXXXX, XXXXX XXXXX XXXXXX . Elkem acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Elkem

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Elkem

When was Elkem founded? Elkem was founded in 1904.
Where is Elkem headquartered? Elkem is headquartered in Norway.
How many employees does Elkem have? As of today, Elkem has 7.3K+ employees.
Who is the CEO of Elkem? Elkem's CEO is Mr. Helge Aasen.
Is Elkem publicy listed? Yes, Elkem is a public company listed on OSL.
What is the stock symbol of Elkem? Elkem trades under ELK ticker.
When did Elkem go public? Elkem went public in 2018.
Who are competitors of Elkem? Similar companies to Elkem include e.g. Borouge, Fertiglobe, Akzo Nobel, Avantium.
What is the current market cap of Elkem? Elkem's current market cap is $1.2B
What is the current revenue of Elkem? Elkem's last 12 months revenue is $3.2B.
What is the current revenue growth of Elkem? Elkem revenue growth (NTM/LTM) is 3%.
What is the current EV/Revenue multiple of Elkem? Current revenue multiple of Elkem is 0.7x.
Is Elkem profitable? Yes, Elkem is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Elkem? Elkem's last 12 months EBITDA is $393M.
What is Elkem's EBITDA margin? Elkem's last 12 months EBITDA margin is 12%.
What is the current EV/EBITDA multiple of Elkem? Current EBITDA multiple of Elkem is 5.3x.
What is the current FCF of Elkem? Elkem's last 12 months FCF is -$22.2M.
What is Elkem's FCF margin? Elkem's last 12 months FCF margin is -1%.
What is the current EV/FCF multiple of Elkem? Current FCF multiple of Elkem is -94.5x.

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